Money can't buy you loyalty

Article Abstract:

Stock markets were extremely strong in 1996, a factor which helped to produce very large bonuses for some employees of investment banks and securities houses in the City of London. Incomes were also boosted by the fact that there were many mergers and acquisitions. However, there are growing indications that steps will soon be taken against very high bonuses. Regulators are starting to become concerned about the 'star' culture created by many investment banks, especially as a top employee can greatly damage an employer's business simply by threatening to leave.

Securities industry

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Now Morgan Grenfell suspends pensions chief

Article Abstract:

Leading fund manager Nicola Horlick, who is highly respected in the City of London, has been suspended by Deutsche Morgan Grenfell (DMG) following claims that she tried to persuade up to 20 colleagues to join her in moving to another investment management operation. She is DMG's best known fund manager, and heads the company's pension fund management operations. There are reports that she had told clients and staff that she was to join ABN Amro, but it now seems that this plan has collapsed.

Horlick, Nicola, Deutsche Morgan Grenfell Group PLC

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Morgan Grenfell executives face the axe next month

Article Abstract:

An inquiry into the activities of Morgan Grenfell fund manager Peter Young by Deutsche Bank, which owns Morgan Grenfell, will probably lead to the sacking of several Morgan Grenfell senior executives. Particular attention is being paid to the role of Glyn Owen, chief investment officer at Morgan Grenfell Asset Management, and Keith Percy, the fund management chief executive, in the scandal. It is not believed that the position of Michael Dobson, chief executive, as in question.

Mutual funds, Morgan Grenfell and Company Ltd.

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